Ipswich investors taking advantage of granny flats

Ipswich investors taking advantage of granny flats

Granny flats are becoming an increasingly popular option for investors in Ipswich since the local council relaxed its planning laws.

by Staff Reporter

January 28, 2014

Sonia Woolley, director of Brisbane-based Vision Granny Flats, said local governments across Australia are changing their planning laws to provide more opportunities for low income earners to live in established suburbs and address the issues of housing affordability.

In particular, Ipswich City Council is the first Local Government Area (LGA) in Queensland to relax its planning laws to allow granny flats as an investment option – rather than restricting their occupancy to immediate family members.

Ms Woolley said Ipswich has taken the lead role in addressing the social impact and issues associated with affordable housing.

“There is a real need in Ipswich for more affordable housing,” she said. “With large blocks people can use this land to build a granny flat to rent out, as an investment property.

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“Instead of having to borrow enough to buy house and land, this option utilises the existing property.

“People can rent the granny flat to tenants or they can move into the granny flat, renting out the main house.”

Ms Woolley said interstate investors have been taking advantage of the granny flat option to increase their rental yield.